Occidental Petroleum Q2 Earnings Preview: Production setbacks, mixed sentiment prevail

Occidental Petroleum (NYSE:OXY) is scheduled to announce Q2 earnings results on Wednesday, August 6th, after market close.

Wall Street, on average, expects the integrated oil and gas company to post a quarterly EPS of $0.31 (-69.9% Y/Y) on revenue of $6.29B.

Occidental posted better than expected Q1 adjusted earnings. The company cut FY 2025 capex guidance by $200M and U.S. operating costs by $150M due to efficiency gains and schedule optimization in the Permian and Gulf.

Most recently, Occidental Petroleum disclosed that its U.S. Gulf operations experienced production curtailments in Q2 due to third-party constraints, extended facility maintenance, and schedule-related delays.

“OXY is heavily U.S. and Permian-focused, lacking both true diversification and pure-play shale status compared to peers,” pointed out a recent Seeking Alpha analysis.

Over the last 2 years, OXY has beaten EPS estimates 88% of the time and has beaten revenue estimates 25% of the time.

Over the last 3 months, EPS estimates have seen 3 upward revisions and 15 downward. Revenue estimates have seen 2 upward revisions and 6 downward.

Since the start of the year, OXY shares have fallen over 13%, compared to the 7.6% rise in the broader S&P 500 index (SP500).

Seeking Alpha’s Quant recommended the stock as a Buy, while the Wall Street analysts see the company as a Hold.